Icra

Friday, Apr 19, 2024 | Last Update : 10:39 PM IST

Centre's interest waiver policy is manageable, say analysts

State Bank of India’s new chairman Dinesh Khara in his first press interaction refused to comment on the issue as the matter is subjudice.

08 Oct 2020 5:24 PM

Capex of states may have to cut by Rs 1- 3.4 lakh crore, finds ICRA. (AFP Photo)

States may cut FY21 capex by Rs 3 lakh crore, says ICRA

ICRA has projected that the gap between the GST compensation requirement and the cess collections for FY21 will be Rs 2.9 lakh crore

10 Sep 2020 11:06 AM

As for financial assistance to the scheme, of the Rs 6.16 lakh crore investment in PMAY(U) projects, the Centre has sanctioned Rs 1.63 lakh crore, but has released only Rs 64,000 crore.

Six years and PMAY(Urban) still moves at snail’s pace

Of the investment in projects, the central government has sanctioned 26 per cent funds, but released only 10 per cent.

28 Jan 2020 1:32 AM

It's now the turn of the cotton spinning industry to take a hit from the demand slowdown. Both revenues and operating profits of domestic spinners are likely to drop.

Reveneue de-growth for cotton spinners seen

Spinners expect that the overall FY20 performance will be weighed down by the tepid volumes and weak earnings seen so far.

18 Dec 2019 2:12 AM

SFBs would need nearly Rs 3,900crore till FY22: ICRA

SFBs have made good progress on deposit mobilisation.

12 Nov 2019 2:39 AM

Incremental bank credit has declined by Rs 0.19 trillion during H1 FY'20, in contrast to the rise of Rs 0.81 trillion during H1 FY'18 and Rs 3.51 trillion during H1 FY'19.

Bank credit growth to moderate to 8.5 pc in FY20: Icra

Icra expects year-on-year credit growth to decline to 6.2-6.8 per cent in FY20 from 13.5 per cent in the last financial year.

04 Nov 2019 3:35 PM

Overall, the Indian airlines also continue to underperform the industry on international routes with passenger traffic de-growth of 14.7pc in July 2019, as against 0.6pc for the industry, the ICRA observed. (Photo: Representative)

ICRA: Domestic passenger traffic growth in July drops to 1.8pc at tourist season end

ICRA VP and Co-Head, Corporate Sector Ratings, Kinjal Shah said, ‘Growth in industry capacity continued to be muted in July 2019 at 3.5pc.’

12 Sep 2019 6:25 PM

Good days are feared to be over for the domestic petrochemical producers, who have been enjoying robust cash earnings over the past several years. Petrochem producers' net debt levels have also been low.

Good days behind for petchem industry: Icra

Going forward, the olefins cycle is likely to decline further and that in turn would lead to subdued returns, they added.

10 Sep 2019 1:45 AM

Going by a recent Icra Ratings report, a sample of 15 large companies which entered the resolution process where the financial creditors have made claims totalling Rs 1.3 lakh crore.

Challenges in resolution of construction firms: Icra

The financial creditors of stressed construction firms are likely to face high haircuts and smooth resolution still remains a far cry.

06 Aug 2019 2:42 AM

During the review period, IL&FS Group had availed rating services from Crisil Ltd, CARE Ratings, ICRA, India Ratings (a Fitch group company) and Brickwork.

IL&FS case: Sebi widens probe into role of rating agencies

Grant Thornton was asked to review ratings provided by various credit rating agencies (CRAs) to IL&FS group companies.

21 Jul 2019 11:55 AM

CARE said Mokashi would be on leave until the company had examined an anonymous complaint against him sent to SEBI. (Photo: File | PTI)

CARE Ratings sends CEO Rajesh Mokashi on leave pending inquiry

The agency appointed T N Arun Kumar, currently executive director of ratings, as interim CEO.

18 Jul 2019 12:37 PM

Action against Takkar has been taken "pending enquiry into the concerns raised in an anonymous representation, that was forwarded to the company by the Securities and Exchange Board of India (SEBI)", Icra said.

Icra shares tumble over 5 pc after company sends MD and CEO on forced leave

The scrip dropped 5.23 per cent to close at Rs 3,050.10 on BSE. During day, it tanked 8.83 per cent to Rs 2,934.

02 Jul 2019 4:52 PM

On the capacity front, ICRA expects around 18-20 MTPA to get added in FY2020.

Cement demand to pick up in Q3

There is a ray of hope as experts expect an upturn in demand from the third quarter, that is, post monsoon.

28 Jun 2019 1:49 AM

This is because domestic TBR demand is currently not met by Chinese tyre imports, as was the case in the past.

No duty gains to tyre firms

Now experts at ICRA felt that this duty imposition will not have significant impact on tyre demand for domestic tyre manufacturers.

27 Jun 2019 1:44 AM

Company is already in the process of selling down its loan assets including wholesale project loans to make good all its obligations and maintain its 100 per cent commitment to all its creditors.

Troubled mortgage lender DHFL again misses debt payments

DHFL only been able to make a 40 per cent payment on unsecured commercial papers due on Tuesday.

26 Jun 2019 8:52 AM

One of the biggest successes of the introduction of the IBC has been the power given to the operational creditors to take a defaulting corporate debtor to the National Company Law Tribunal (NCLT).

Operational creditors suffer 58 per cent haircut

The operational creditors took a haircut of 58 per cent on the total claims of around Rs 8,140 crore.

20 Jun 2019 1:42 AM

The steel exports to the US from China, Japan and South Korea have fallen by 4,88,000 tonne in six months since the imposition of the duty barriers by the Trump Administration.

Steel industry seeks safeguard duty to counter rise in imports

The proposed duty is to cover under its purview products like semis, flats, longs, pipes and tubes, stainless steel and Railway products.

17 Jun 2019 2:05 AM

Mortgage lender Dewan Housing Finance Ltd (DHFL) on Tuesday said that it has cleared interest of Rs 961 crore due on non-convertible debentures (NCDs) and would be seeking a rating upgrade from agencies.

DHFL clears Rs 961 crore interest on NCDs

The company has made interest payments in lieu of Rs 961 crore as committed to its debenture holders.

12 Jun 2019 2:23 AM

Sugar prices in the domestic market were hovering around Rs 31,000/MT in April, 2019 (ex-mill, UP). Prices have recovered and now stand at Rs 33,000- Rs 33,500/MT.

Sugar dearer on cane availability concerns

Consider what Sabyasachi Majumdar, Senior Vice President & Group Head, Corporate Ratings, Icra, has to say about this.

03 Jun 2019 3:03 AM

The cement demand has been improving across the country and as a result cement prices have been heading north from March this year.

Cement prices going north

Cement production was higher by around 13 per cent YoY in FY19, up from 6 per cent YoY growth in FY2018.

28 May 2019 1:51 AM

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Mohan Guruswamy

icra